Terms
of Reference
1. To advise the Executive and
Council on
all matters of finance and investment.
2. To consider the long-term
financial
health of the society and to propose to Council policies regarding the
raising of revenue including charitable donations, priorities for
expenditures,
contributions to the reserve fund and the making of investments.
Mode of Operation: The
Committee
will normally work and meet by e-mail and will hold at least three
teleconferences
per year. It may also appoint ad hoc working or study groups as
required.
Membership and Terms of Office:
The committee shall consist of the President, Treasurer, two previous
Treasurers,
Director of Publications, a Chair appointed by Council and such other
members
that may be appointed by the Council from time to time as the need
dictates.
The Chair and other members appointed by Council shall serve for three
year terms.
Committee Level: This is a
Council-appointed
Committee.
Report: The Committee will
produce
an annual report in accordance with Appendix III to the By-Laws.
Core Activities
1. To review proposed budgets,
periodic
financial reports including the audited annual statements and the
investment
portfolio and to provide advice thereon to the Treasurer and Executive.
2. To propose financial and
investment
policies to the Executive and Council in consideration of short and
long
term risks to the financial health of the Society.
3. To act as an advisory group to
the Executive
and Council on all financial and investment matters as required and
requested.
Approved by CMOS Council:
December
13, 2005
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